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Buy up

If you are a member of the Main Section, you can improve your benefits by buying up.

Watch your pension grow quicker - the buy up option allows you to increase your pension accrual rate from 1/75th to 1/70th or 1/65th (prior to 6 April 2016 the standard accrual rate was 1/67th and you could increase it to 1/65th or 1/60th);

Greater certainty - by buying up you know how much more pension you will earn. This is different from typical voluntary benefits like AVCs where the amount of pension you receive depends upon investment returns and annuity rates.

No hassle - contributions are deducted directly from your pay so you do not need to worry about arranging payment.

You can find out more by downloading the 2018/19 Buy Up Guide below.

You can also download the 2018/19 modeller below. This shows the annual cost and benefit of Buying Up.

A letter was sent to all active members of the Main Section in January 2018. If you wish to continue on your current accrual rate you do not need to do anything. If you wish to change our accrual rate for the 2018/19 tax year please return your election form by 9 March 2018.

The next opportunity to Buy Up after April 2018 will be April 2019.

Last updated: 19 January 2018

Downloads

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